r
I 4
10
MAIL TRIBUNE, M.dfoiJ, Or.
Unanimity Lacking in Opinions
About Stock Market3 Future
By ELMER C. WALZEH
UPI F'inanciBl Edilor
New York - WPIi - The fi
narffial district cherishes it
old adiiop which says, "whe
riever Wall
i C.,. i. n.
a n i mous in
mous in any
thing, it usual'
ly is wrong."
At the pres
ent time one
can discerf? a
wide variel:
rot opinions on
Elmer WaUer the stock mar
ket and its future. Unanimity
just isn't there.
Divergen' opinions even
come from the same brokcr
a, house.
In the case of Paine, Web
ber, Jackson & Curtis, the
firm Is publicizing a diversity
of market opinion of two of
its highly respected market
experts.
Their vie s are) carried side
by side In tie firm's "security
buyer's revic" in ht th
critics call highly objectiv
editorial policy.
Jfja v ireac)
William Kurtz, senior mr
kct analyst of Paine-Webber,
ives his views under the
heading, "the aggressive ap
Droach." lie believes the current
rrmriet is at the loer end g
the i0 ran nd that th
nuary-rrch dclin or. IS
e ctnt "represented t typi
tV ,)t-tr pdjuttmtiAt (t fi
oncrllicI stt of th bull
rt that bfin in 157."
HnrrO D. 'Crenel", th firm
director of research wrlfii
under the caption, "0 con
servative appraisal."
Comer refers to the DovJ
theory siRnol Uitt .occurrOrt
on March 3 when the roils
jnb to o new Io since 1959.
He citac ffsuru; to shov that
tha Daw theory spsittad 18
lt!r bvor mariats-
"Both technicol and oco
aomic espcts of tho curront
Situation,1' soys Comor,- "pro
vide a non - bullish back
around, speaking generally."
fi!iliiw!j Ftet'-at
Kurtz asserts thot Ihia mar
ket hse found stability and
cites a group of stabilizing,
. factors in the economy to help
it - hitrh government expendi
tures, federal resor"e flexible
. nrrrfit pilicy. hkjiVi Wit-h rat-ij
' V! CSVo "vSiotJSI' "Wrn
II, ton 'asling a sharp rim in
family formations eftsr 12,
yrovin.s importance of social
curtly, unemployment com
;rn.Mtlon unti othr ovrn
ment payn.ents, mov rf
meni-rneut to iocrjtM pro
(uctivity villi nc mchlnr;
tnd tquimtnt, n rtyitl
:fntion o: rrc,.
Comir reclUv : rqutllj
Shrmidibl? list of fvrw
wiertet fsclors, eueli H rly
discounting of thi slul tri,
li',mUn f i:to m o b 1 1 r.
ales tnd high tuto in!tntoJ,
hifth interest nln. dsclin i
rail traffic, hish ylatfle t
bond draining tune's fro
't'IS, listening tttr of in
f let ion, nri tl Antici;at4l.
budet surplus.
Kurtz sayi tlvi ;onoJ
now Is influtneed mors b?
lonf range rolh itctors
than cylictl forcss.
"Invie of thi eeorm?'s
urjdcrlying growth nd its
greater stability compared
with prior eras," says Kurtz,
"it is not surprising to fimS
HOW.C-3 ...
This In the last -nrl ftna
iiroup of thru homr to
Bed..
Houses are uaentlAlty com
Dlcte with all exterior and
interior walh and celling
panel, all plumbing fixture.
iminga, and piping, win
rimva. doors, electrical lix
tuir, roof tmiwea, flooring.
eir. Hiewi mr tiome. cart in, or
rental unit. Thee home
a ere government maintained
No Down
Payment
Kor thoe who enn qualify
IOOV financing can be arranged-
Monthly Payments
Lower Than Rent!
Monthly paymenU ran f
low w $44.iK) per month.
free Delivery!
Houw delivered, rfady for
anfinhlv, free to your lot
within 50 ml lei of Medford
Limited Supply!
Only a few of thPts home
are left and will he mold on
a fint come flrat aerved
ban it.
Call, Write, Phone
anre Dawaon. Project Reo-
reaentative In Medford fol
few dava beginning Satur
day. Ma.v 28 at Crater Inn
Motel, 700 S. Riveralde Ave.,
10 A M. to 0 P M . .m-ludinf
Sunday, Phone SP 3307.
Friday, Junt 3, 1960
slock market averages in a
growth trend, interrupted by
only moderate adjustments."
Kurtz recommends growth
stocks, whili Comer suggests
defensive issues.
Bull and a Bear
Kurtz suggests "one might
purchase many Avorably sit
uated Issuer in ralftd growth
areas such as electronics, leisure-time
industries, amateur
photography, drugs and cos
metics, bus'jicss machines, car
and equipment leasing, auto
mated retailing, aluminum,
and plastics."
According to Comer, "in
vestment portfolios should
hold more than their usual
allotment of defensive type
common stock, such as utili
ties, telephone, bank, depart
ment store, food and tobacco;
also fixed income securities,
Including convertible bonds.
.New purchases of common
Roseburg OIPD Dean Ellis,
chairman of the State Tax
Commission, has predicted
there would be $11!,600,0JO
Bvuuuuie lur mo. 10 education
in the 1061-63 biennium.
Ellis told .the Legislative
Interim Committee on Edu
cation ks based his prediction
eti a fortes of $338.3 million
in all bain; evtilobl ffased
oa currant tsta taxation.
Froptttin into tfce future,
ItO prmHctrd thr would be
f?lS7,200,OCIl tvailable for aid
to ffducttlon in 1963-65. The,
reason tha fljiur is less is
bscausa of ff (23 million sur
plus expecttd for the current
biennium.
Ellin .oeid th 1963-65 fig-
ure wa more than $28 mil
Ui loag than the committee
thinfes will bj netded for edu
cation then.
tMB gifenlifey
MED
TOi ctiUfrinctiSfA thre bedroom, family room home, loSated next to thft
l:i)f cooriTa in tha Bedford school district, has a strong rustic flavor,
wl foaturfflj the latest in indoor-outdoor all-lectric living.
ViVicCs, Irow, rustic overhangs with a lifetime shake roof, blending with
beautiful Palos Verdes stone offer a minimum amount of upkeep,
A covered patio includes a built-in barbecue. The yard is completely
landscaped.
A complete sUDe entry carries you into gracious family living beautified
with wood panellings, beam ceilings, furniture-built hardwood cabinets
and storage, mosaic tile baths and other features.
Guaranteed by the Bronze Medallion, some of the all-electric living
features are: modern cei&ng cable heat, Vacu-Flo cleaning system,
indirect living room lighting, and an all-electric kitchen. Wired for
full housepower, there are plenty of wall outlets and ampjp circuits
for all your electrical needs.
COME SEE THESE HOMES...
stocks for capital gains should
be selected wit! unusual can
and in tho main should rcpn
sent 'special siluatio!0'."
Here we have a bull and a
bear. One oclieves the mar
ket has sec-nits lows and the
other looks . f.
ttW fnrtliiT rip-
cline before
new rie dn
velnps.
However, they have one
idea in common, namely s
lectivily. Kurtz, the bull, says
"individual selection is the
current key to investment sui
cess rather than attempts to
forecast (lie trend of stock
market averages."
Comer indicates ttial even
in bear markets one can make
a profit if lie buys issues "se
lected with unusual care."
After giving its readers the
views of t he firm's analysts.
Paine - Webber explores var
ious industries and individual
issues in each and adds a
couple f pages on convcrtib"
bonds and on municipal
bonds.
Discount Rafs
Cisf Aufhorized
Washin.p.ton fUPU The fed
eral reserve board, confident
I li a t businessmen and con
sumers no longer are plagued
by inflation psychology, has
authorized a cut in the dis
count rate from the present
4 per cent to 3'-l' per cent.
The board authorized the
reduction, effective today at
the Philadelphia and San
Francisro Federal Reserve
banks. The same reduc'ion is
expected to he jpiade at Ihe
other 10 Federal Reserve
banks.
The board action followed
a general easing in money
markets in recent weeks and
may be a signal that the board
is ready to loosen up on bank
credit even more.
FORD'S FIRST
Th(S Brons Medallion fi$)
g5-rvr (Off Country Club Drive SoiuMti oftlf Couir)'
In Country Clwfe
"J"
E. C. Conrad & Son
1409 Olaandtr, Medford
R. B. Ungston
tO Crown Street, Central Point
.3
DRINKS ALL AROUND - Remembering
their buddy, they poured a drink for
Charley and frad one themselves at the
Presque Isle Township cemetery near Al
pena, mien. i cruwu wrta on uanu ior ine
ceremony as Fred Piepkorn, left, fired a
salute anS F. .. Stebbins poured a liba
tion into the container at the head of the
Shasta-Siskiyou
Road Bid heskd
Sacramento -(UPD- The State
Division of Highways has re
ceived a low bid of $7,469,832
on a project that will close
the final gap in 30 miles of
freeway amO expressvay on
U. S. Highway 99 in Shasta
and iskiyou counties.
The propel calls for con
struction ol 5.9 miles of four
lane freeway between six-
lenins ui a nine norm ox anoiQ
gun crecK ann a mne souin oi
Castflla. The low bid was re
ceived from Slate-Hall-Hamilton,
of Portland, Ore.
14 HtlM
WATCH FOR THESE OTHER MEDALLION HOME OPENINGS:
4-1 NEWS'
Central Point Pig Club
The Central Point 4-H Pig
club went on a judging tour
recently. The Central Point
Cud Chewcrs ;d Earle Jossy
were the club's guests on the
tour.
We met at Frinks at 10 a.m.
and brought our sack lunches.
We judged a class of sows at
Frinks and Jossy showed us
how we should show them.
We went to Carol Foote's
home, nd judged a class of
Guernsey milking cows and
a class of Cheviot ewes. Jossy
WW.
WfuVE BETTER'
Dale Niedermeyer
27S7 larch, Medford
len Osgood
240 Skycrett Dr., Ashland
grave. Years ago, deceased Charles Priest
and friends made a pact that when one
of them died, the oAers would visit the
grave to pour a drink and have one them
selves, yearly. The ceremony has been
going on since Priest's death in 1936.
(UPI Telephoto)
showed us how we should
show them, and Clem Ault
told us about the Cheviot
breed of sheep.
Later, we went to Don
Bradshaw's and judged a class
of Hereford bulls. We also
judged a class of Hereford
cows and a class .' Hereford
calves.
GIRL STATISTICS OUT
Los Angeles - IUP1I - The
average American teen-age
girl is 5-feet, four-inches tall,
weighs 117 pounds and mea
sures 34-24-35, according to
results of a survey released
today by 'Teen Magazine
which polled 1,500 girls across
the nation.
Ji La
MEDALLION HOMES!
K.'S tf
IV? I
31 Area Students
To Receive OSC
Degrees June 6
Corvallls - Thirty-one stu
dents from the Medford area
will receive degrees at the
91st annual commencement at
Oregon State college.
Receiving bachelor of sci
ence degrees are: science, Mil
ton E. T u c I e r of Central
Point and Brent H. Carter;
agriculture, Donn R. Johnson
of Central Point and Russell
G. Ferg; buSess and technol
ogy, Barbara E. Baker, Ken
neth A. Bittcrling of Eagle
Point, Janet A. Carter, Larry
L. Copple, Vernon L. Gleason,
Martin D. Heitkamp. Monte
rey G. Hoist, and James M.
Zakrzewski.
Education, Beverly A. Bur
goyne of Central Point, Nor
ma R. Chisum, Sharon L.
James of Eagle Point, Maralee
G. Chisholm Lopez, of Med
ford, and Clarence O. Nellie
of Prospect; engineering, Jon
M. Clifford. Leslie R. Combs
of Talent, Douglas G. Culy,
Carl A. Dobrot of Central
Point, Winston W. K u r t h,
Richard L. Purdy of Central
Point, Richard W. VanVIeck.
Forestry, Robert E. Peder
son and Clinton M. Peterson;
home economics, Loleta Buell
Cordy, Virginia H. Cunning
ham, and Sheila A. Spence.
Two Degrees
Clifford B. Cordy, Jr. will
receive both a bachelor of sci
ence in engineering and in
science.
Receiving a master of edu
cation degree will be Duane
O. Richardson.
Oregon State will confer
approximately 1.800 degrees
this year, including 46 doc
tor's degrees, 315 master's,
135 bft'hJor's, and 2 pro
fessional engineering degrees.
The total is 150 more than a
year ago.
Commencement will be
Tli Gold Medallion Nocmg
2824 Ko?SKoomt- Av&rau (off SoatUi ArAuirpfrif
In La Mipadt)
Griffifh
I
Embedded in tha front stop, tha Gold Medallion announces to all vis
itors that you have a sound investment in your home Tha Lennox
heat pump provides wintqr and summer air conditioning. Tha all-elfee-trie
kitchen includes such appliances as an automatic garbage dispotsaj
unit.
City water and sewqr lines, finished curbs, gutters, and a pavd street
enhance this property. Tha landscapad lot includes new topsoil both
in front and behind tha housa.
Inside, all kitchen counters are finished in ceramic tile. Fascinating peb-
ble-stone tile graces the main living room wall, and the main and
three-quarter sized bathrooms feature ceramic tila.
Closet doors in the three bedrooms are of a bi-fold design and ex
tend from floor to ceiling. All other dcTbrs and cabinets inside are of
sen wood panelling.
You are welcome to inspect this home to se the high standards of
lighting, wiring, and appliances which earn it the Gold Medallion.
...THIS WEEKEND!.'
lee Niedermeyer
Niedermeyer Tra Medford
Donald L. Ces
Niedermeyer Tract, Medford
June 6 at 10 a.m. with bac
calaureate service set for Sun
day, June 5, at 11 a.m. Both
programr will be held In the
coliseum to provide maximum
seating for parents, guests,
and One general public.
Johnson will also be con
1960 DODGE
TRUCK
ImmadiatG Delivery!
6 Cylinder Economy Engine
9h.D. 3-Speed Transmission
. Heater and Defroster
Mo'ern Sweptline Styling
Turn Signals
Electric Windshield Wipers
Gasoline Tank Outside of
Serviced Ready To Go
$53.40 per month
Dodge Dodge Dart Dodge Truck Headquarters
315 East 5th - Next to Greyhound - SP 3-3687
B'ciildi&r0f Wmm Mi&g&
Lit r:i-rin.
VT-' JM
missioned as a i ensign in the
avy and Dobrot will be com
missioned as a second lieuten
ant in the Air Force.
POPULATION CENTER
Mexico City - More than
two million persons live in
this capital city of Mexico.
3)
Cab
ejd)
I